1.China lodges tariff complaint at WTO against the U.S.
중국, WTO에 미국 제소…9월 협상일정 조율 난항
Trade tensions between the world’s two superpowers are escalating…. with no agreement from the U.S. and China on when to hold their next round trade talks.
In the meantime, China has lodged a complaint with the WTO over America’s tariffs.
Our Hong Yoo has more.
China has lodged a complaint with the World Trade Organization over Washington’s tariffs… that it says affect 300 billion U.S. dollars of Chinese exports.
The move comes after the U.S. imposed new duties on Sunday of 15 percent on 125 billion dollars worth of goods.
Regarding the complaint, the Chinese Commerce Ministry said in a statement on Monday that the tariffs violate WTO regulations and demolish international rule and trade order.
Beijing said it plans to protect its legitimate rights and interests in accordance with the relevant WTO regulations, and also protect the multilateral trading system.
This is the third time China has lodged a complaint with the WTO over President Trump’s tariffs on Chinese goods.
With the escalating trade tensions between the U.S. and China, the world’s two economic superpowers seem less likely to sit down for negotiations in September.
Despite President Trump putting in efforts to make it look as if trade talks are making progress, Bloomberg reports that they have failed to reach a basic agreement on when to meet to discuss the trade dispute.
Bloomberg cited people familiar with the discussions who asked not to be identified, and clarified this is not a sign that the meeting will not happen but that it will take time.
China had made a request over the past week to delay new tariffs, but the U.S. did not back down and the tariffs took effect over the weekend.
Now that another complaint has been filed, the U.S. will have to settle the latest dispute within 60 days under WTO rules.
Hong Yoo, Arirang News.
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